Roman Currency Debasement
About Roman Currency Debasement
The gradual reduction of silver content in Roman coins contributed to economic decline. The denarius, introduced at 95 percent silver, fell to 5 percent by the 270s AD. Emperors debased coins to fund military campaigns and public spending. The resulting inflation was devastating. Diocletians Edict on Maximum Prices in 301 AD attempted to control inflation, but was ignored. The debasement paralleled the decline of the Roman Empire. Trade reverted to barter in many areas. The lesson of Roman currency debasement influenced monetary policy for centuries. The Byzantine solidus, introduced by Constantine, maintained its purity for 700 years.
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